As of the last check this current trading session, Codexis, Inc. (NASDAQ: CDXS) was observed to have surged by 30.47%, reaching $4.18. This upward trend in Codexis stock value is propelled by an announcement of a significant licensing agreement.
Codexis (CDXS) has formalized an exclusive, worldwide licensing deal with Roche, pertaining to the Company’s freshly engineered double-stranded DNA (dsDNA) ligase designed for next-generation sequencing (NGS) library preparation, alongside the EvoT4 DNA ligase. According to the terms outlined in the agreement, Codexis stands to gain upfront payments as well as technical milestone reimbursements. Notably, this agreement supplants the prior exclusive license concerning the EvoT4 DNA ligase.
This transaction epitomizes the ongoing dedication of Codexis to concentrate on the pivotal sectors of its enterprise, where it can wield the most significant influence in the market. Since the articulation of its prioritized strategy last July, Codexis has successfully executed numerous agreements aimed at monetizing its non-core assets in collaboration with leading entities in the market.
The renewal of collaboration with Roche on the innovative dsDNA ligase is a source of great anticipation. As a pioneer in NGS technologies, Roche consistently introduces crucial kits to the market, ensuring the requisite sensitivity and specificity for the forthcoming wave of pioneering NGS applications. Leveraging Roche’s technical expertise and expansive commercial footprint, Codexis now possesses the means to fully exploit the potential of its dsDNA ligase.
Engineered through Codexis’ proprietary CodeEvolver technology, this recently developed dsDNA ligase enhances the ligation efficiency of DNA fragments and adapters during NGS library preparation, devoid of any bias. This advancement is particularly advantageous for NGS workflows demanding the utmost sensitivity, even under constraints of limited starting material.
Compared to the wild-type enzyme, the newly engineered dsDNA ligase demonstrates superior ligation efficiency within shorter reaction durations, yielding higher library outputs and complexity while exhibiting minimal substrate sequence bias.
Additionally, the Company is scheduled to participate in the TD Cowen 44th Annual Health Care Conference, slated for March 4-6, 2024, in Boston, Massachusetts. CDXS Management is set to engage in a fireside chat on Monday, March 4, 2024, at 2:50 pm ET.
